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China's PMI of manufacturing sector falls to 52.1% in June

07-01-2010 14:28 BJT

BEIJING, July 1 (Xinhua) -- The Purchasing Managers' Index (PMI) for China's manufacturing sector stood at 52.1 percent in June, down 1.8 percentage points from last month, the China Federation of Logistics and Purchasing (CFLP) said Thursday.

The PMI includes a package of indices to measure manufacturing sector performance. A reading above 50 percent indicates economic expansion, and below 50 percent indicates contraction.

It was the 16th straight month that the index was above 50 percent.

The index hit a record low of 38.8 percent in November 2008 when the global financial crisis started to weigh on China's economy. The last time the index fell below 50 was February last year.

According to the CFLP, 10 sub-indices such as production, new orders and purchasing prices all fell, but the overstock index was up.

The PMI index slowed for the second consecutive month, indicating a moderation in the pace of China's manufacturing expansion because of the country's macro regulation policies and slowdown in global economic recovery, the National Bureau of Statistics (NBS) said in a statement on its website.

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